India attacking Bitcoin, calls us the "Bitcoin Gang"
In a recent post by "The Hindu" they completely write off Bitcoin and the Bitcoin-community as "thugs" and calls us all the "Bitcoin Gang". Their post with the title "Bitcoin gang gets 67 new e-curriences; value grows to $13 bn" highlights the possibility for money laundering: As regulatory glare intensifies on bitcoins due to possible money laundering, cyber security and other risks, over five dozen other virtual currencies have come under the scanner and include a desi version by name of 'laxmicoin'. A user on Bitcointalk cries for help from the Bitcoin community saying: I am starting to....
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The European law enforcement agency, Europol, has arrested 10 people believed to be members of the criminal gang that stole cryptocurrencies with an estimated value of $100 million. The arrests follow an international investigation into a series of sim swapping attacks that occurred in 2020. According to Europol, this criminal gang had also targeted high-profile victims that are based in the U.S. The Hijacking of Mobile Devices In a statement following the arrests, the law enforcement agency explains that eight members of the gang were nabbed on Feb. 9. The two other members, one from....
In this week’s bite-sized digest of the hottest stories from Bitcoin.com News, a new Finder survey knocks down previous forecasts for ethereum’s price a notch, with crypto experts predicting lower long-term prices for the asset. Also, India calls on G20 nations to bring cryptocurrencies within the “Automatic Exchange of Information” framework, billionaire Thomas Peterffy weighs in on investment and the future legality of bitcoin, and SEC Chair Gary Gensler clarifies the U.S. securities watchdog’s approach to crypto regulation.
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An international syndicate of debit card cloners was recently busted in India and investigations revealed that bitcoin was used in their transactions. As it turns out, the gang siphoned money out of ATM machines using these cloned cards then converted the funds to bitcoin before being distributed to its members. One of the key attributes of bitcoin is its pseudo-anonymity, as transactions are validated using complex algorithms and cannot always be traced back to any identities. This has been one of the reasons why the cryptocurrency has typically been tapped by scammers or hackers, as this....
The Prime Minister of India calls for increased usage of digital currency as the country struggles with the scarcity of currency notes following "demonetization" of high-value banknotes. India recently made it to the news by doing the unthinkable — declaring two of its existing large denomination currency notes invalid. The move effectively removed an estimated 80 percent of the currency notes out of circulation drastically affecting the country’s economy. The government insists that the move will root out unaccounted cash and counterfeit currency, which is debatable. However, on....
The string of dark web gangs being cracked down by law enforcement is still alive across the world. Recently, the British authorities dismantled an unnamed dark web band known for selling ecstasy and gathering millions of dollars worth of crypto. Gang Sold Ecstasy, Amphetamine, and Diazepam in Several Darknet Forums According to The Independent, the National Crime Agency (NCA) deployed an operation that targeted several houses in North East England, specifically in the metropolitan borough of South Tyneside. Authorities were concerned and raised red flags last year after intercepting large....